Balance Innovations Launches Cash Forecasting
New feature leverages machine learning to predict cash demand and free up capital
LENEXA, Kan. (Dec. 21, 2018) -- Balance Innovations, the only hardware-neutral, end-to-end integrated cash management software provider, will launch a revolutionary new capability at NRF 2019. The new capability--Cash Forecasting—leverages IoT (Internet of Things) integration, machine learning, and data to help retailers predict cash demand independent of what hardware or software they currently use.
Cash Forecasting is the first data analytics offering for the Balance Innovations’ VeriBalance platform and the only solution that integrates all cash-handling systems and devices. The platform can access cash handling devices in real time to identify cash on hand by denomination. It then uses store-level historical data, combined with machine learning algorithms, to predict cash demand and forecast how much cash by denomination is needed at each store.
“We are seeing the opportunity to awaken millions of sleeping dollars spread across 1000s of stores almost instantly along with the ability to incrementally fine-tune these forecasts over time to help retailers build confidence as they move past decades of intuition-based approaches,” said Darren Knipp President and CEO of Balance Innovations. “This software-based capability works with retailers’ existing systems thereby accelerating implementation while delivering results in a fraction of the time and cost compared to traditional hardware-based solutions.”
As NRF 2019 focuses on intelligent retail and using data science to enable innovation, Balance Innovations is turning these theories into practice with solutions that help retailers make better, faster decisions while freeing time and money to focus on their customers.
Visit Balance Innovations at NRF booth #3681 for a demo of Cash Forecasting, and its end-to-end integrated cash management system.
About Balance Innovations
Based in Lenexa, Kansas, Balance Innovations revolutionizes retail through powerful, fully integrated, cloud-based currency management solutions. Its VeriBalance platform is the only enterprise software platform that connects all points of currency operations, lowering the cost of accepting cash and increasing efficiency at all levels of the organization. Harnessing the power of data, Balance Innovations systems drive increased productivity and operational innovation by giving valuable time back to retail organizations throughout the U.S. Visit www.balanceinnovations.com.